Price Of Buying A House Vs Building In Kenya?
Securing a home is a priority for most of us. However, when it comes time to get one, this question arises, should you buy a home or buy land and build a house? Which one is better in Kenya? Today, we dedicated this article to answering your question. Both buying or constructing your own house has advantages and disadvantages as we see below.
Buying an existing home
Advantages of buying an existing home
If you need to settle soonest possible, buying an existing home is the best way out. An existing home requires fewer processes to acquire compared to constructing yours from scratch. The only process you do here is the transfer of property and settlement.
2. You get the exact location
When buying land to construct your own house, you have no choice but to go for a location with available land. However, when buying a ready home, you are not limited to location and can buy a house in the exact location you need.
3. Avoid furnishing
The advantage of buying existing land is that you might find an already furnished house and all you need is to move in.
Disadvantages of buying an existing home
1. Renovation costs
In case you are buying an already used house, spending shall not end at the buying stage. Renovations and customization can take a lot of money. Therefore, when buying a house, ensure you check the renovation needs and their cost, they should be considered during the buying process.
2. You won’t get your taste
A house that you buy comes in the design, specifications, and needs of the previous owner. You shall have to compromise on your taste and work with whatever you find. The room sizes, decorations and much more shall not be your making.
3. Possible issues
An already constructed house might seem sure about land safety. However, there is a possibility of future arising issues about the land your bought house is constructed on. You might get to discover later that the land it is built on is government land or has any other issues. It is therefore wise to do a thorough confirmation of land ownership before buying.
Constructing a new house
Advantages of building a new house
1. Customized to your taste
This is perhaps the prime advantage of buying land and then constructing your own house. You decide on and get your specifications and taste. You shall get the advantage to choose the design, room sizes, styles, paint, and much more.
2. Less maintainable costs
Unlike buying an already existing home, constructing your own house shall help you avoid renovation and heavy maintainable costs. A newly constructed house shall stay for quite a time before demanding serious maintainable services compared to a bought one which calls for renovation and maintenance from the word go.
3. Up-to-date technology and systems
Every day we wake up to new technology in all areas including houses. A house you construct shall have the advantage of being up to date with the latest technologies such as CCTV, uPVC windows, an alarm system, and more.
4. Easy selling
A newly constructed house shall take longer to depreciate in value compared to an existing house. When it comes time to sell the property, you are guaranteed a higher ROI.
Disadvantages of constructing your own house
Constructing your own house calls for more process than buying a ready house. You need to go through the land buying process, then the construction process which is time-consuming and strenuous. You shall have to take time before settling in your new home.
2. Budget limitations
The type and size of house you buy shall go with your budget. Therefore you might end up missing important features or worse still, get stuck on the way. The technologies and features that are incorporated are expensive and would need you to dig deeper into your pockets.
|Advantages||Time-saving||Customized to your taste|
|You get your preferred location||less maintenance cost|
|Ready furnishing||Higher ROI|
|Disadvantages||You won’t get your taste||Takes more time|
|Renovation costs||Expensive to incorporate new technologies|
|Possible land issues|
Should you buy a home or buy land and build a house? Which one is better Kenya?
To conclude, buying land and constructing your own house shall give you more space for customizing according to your taste. On the other hand, buying a ready home shall save you time and get you settled sooner. We advise that you go through both the advantages and disadvantages listed above and then decide on your ideal manner of getting a home.